Join our fan page
Module of Trade Signals, based on Chande Momentum Oscillator - library for MetaTrader 5
- Views:
- 5931
- Rating:
- Published:
- 2011.08.08 19:23
- Updated:
- 2016.11.22 07:32
- Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
The signals are formed at completed bars. Chande Momentum Oscillator is used as a custom indicator for module of trade signals. The Downward crossover of -50 level is a signal to open a long position, the upward crossover of 50 level is a signal to open short position.
The following input parameters were used when testing:
- CMO_period: 9;
- CMO_Shift: 0;
- Timeframe: D1;
- Symbol: EURUSD;
- Lot: 0.1;
- Stop Loss, Take Profit, Trailing: not used.
To use this module of trade signals in MQL5 Wizard, the chande_momentum_oscillatorsignal.mqh and basedonindicatorexpertsignal.mqh must be placed to terminal_data_folder\MQL5\Include\Expert\Signal\MySignals.
The module uses Chande Momentum Oscillator indicator, the chande_momentum_oscillator.mq5 must be placed to terminal_data_folder\MQL5\Indicators.
The SmoothAlgorithms.mqh must be placed to terminal_data_folder\MQL5\Include.
Chande Momentum Oscillator
History backtesing results (from 01.01.2010):
History backtesting results
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/444
Chande Momentum Oscillator (CMO) is a technical indicator that attempts to capture the Momentum.
CoeffofLineCoeffofLine indicator shows the most likely future price direction (2-3 bars).
Fast Trend Line Momentum (FTLM) and Slow Trend Line Momentum SLTM) indicators show the rate of price change.
Arrows&CurvesArrows&Curves shows signals to open and close positions.